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Homework answers / question archive / A university study found that 25 percent of Russian men died before the age of 55 in 2014, and alcohol was an influencing factor in their early deaths

A university study found that 25 percent of Russian men died before the age of 55 in 2014, and alcohol was an influencing factor in their early deaths

Economics

A university study found that 25 percent of Russian men died before the age of 55 in 2014, and alcohol was an influencing factor in their early deaths. The Russian government has settled the minimum price of vodka since 2014. However, because of the falling oil prices and western sanctions, the Russian ruble fell sharply in 2015 and the inflation rate hit 9.4 percent in this period. Vodka prices have risen about 30 percent in the following year. According to a BBC report on December 24th 2015, Russian President Putin has ordered the government to limit the rise in vodka prices. Putin said the rising prices of vodka led people to buy illegal and unsafe alcohol and that the government should also crack down on the illegal trade.

Question: please use the supply and demand model to explain the impact of the Russian government's vodka policy adjustment on the market from 2014 to 2015.

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